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Manufacturing statements and cost behavior Tampa Foundry began operations during the current year, manufacturing various products for industrial use. One such product is light-gauge aluminum, which the company sells for $36 per roll. Cost information for the year just ended follows. Per Unit Variable Cost Fixed Cost Direct materials $4.50 $ — Direct labor 6.5 — Factory overhead 9 50,000 Selling — 70,000 Administrative — 135,000 Production and sales totaled 20,000 rolls and 17,000 rolls, respectively There is no work in process. Tampa carries its finished goods inventory at the average unit cost of production. Instructions: a. Determine the cost of the finished goods inventory of light-gauge aluminum. b. Prepare an income statement for the current year ended December 31 c. On the basis of the information presented: 1. Does it appear that the company pays commissions to its sales staff? Explain. 2. What is the likely effect on the $4.50 unit cost of direct materials if next year's production increases? Why?
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Given the information that follows, prepare a cash budget for the XYZ Store for the first six months of 2010. All prices and costs remain constant. Sales are 90% for cre
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for financial accounting purposes, what is the total amount of product costs incurred to make 10,000 units?
Q. Let a firm's production function be given by K 0.3 L 0.7 . (i) Sketch (without specific numbers) the shape of the long run average and long-run marginal cost curves of the fir
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